DVC newbee-lots of questions

[paper1225]

Maybe someone can refer me to an information site that can help, or if someone wants to answer any questions, I appreciate it!

We have been going to Disney about every other year since '99, just wondering if we should move on to DVC but have so many questions!

1. I see such different pricing for different resorts, for example Vero can be about $56/point where as the new Tower is $100/point. Other than different point values, why would I pay the higher price?

2. How do I "bank" and what does all that mean?

3. I see the financial investment of $10K + and the annual dues-does it really pay off financially for DVC?

Remember, I am a huge Disney lover........DH is not,but he deals with me- I would do just about anything to go to Disney more, but it has to make financial sense to me...........

 

[toomanycars]

#2 From the DVC Site:

Banking Vacation Points

Banking is the term for moving Vacation Points from the current Use Year to the next Use Year. As a Disney Vacation Club Member, one of the great advantages of your Membership is vacation flexibility. Some years, you may not be able to use all your Vacation Points, while other years you may need more Vacation Points than you have available. In these cases, banking Vacation Points for future use is a great solution. In months 1-8 of your current Use Year you can bank up to 100% of your Vacation Points for use in the following year; you cannot bank Vacation Points in months 9-12.

An example of banking Vacation Points

Let's say your Use Year begins in February and your total annual allotment of Vacation Points across all of your contracts is 400 Vacation Points. (The banking window is applied to the sum total of all of your contracts, not on an individual contract level.) In March, you decide to bank some of your Vacation Points. Since you are in the first eight months of your Use Year, your banking window is at 100% and you can bank all 400 Vacation Points into your next Use Year. However, you choose to bank only 150 Vacation Points at the time.

In August, you decide to bank more of your Vacation Points. You still have 250 Vacation Points available in your current Use Year, and because you are still within the first eight months of your current Use Year, you can bank any or all of your remaining 250 Vacation Points.

Note that if you bank the remaining 250 Vacation Points, your bank is "full" and you cannot bank any more Vacation Points.

In October your banking window is closed; you can no longer bank Vacation Points as you are now in month nine of your current Use Year.

To summarize this example, during your current Use Year that begins in February, you can bank some or all of your 400 Vacation Points at any time from February through September (months 1-8). Once your bank is "full," you cannot bank any more Vacation Points during your current Use Year. Your banking window is closed from October through January of your current Use Year (months 9-12) and you cannot bank any Vacation Points during those months.

 

[ToddyLu]

Read all the stickies and then read read read here for a lot of the nuiances to ownership. Passporter has a good DVC guide book that you can download to your computer for a small fee. DVCNews.com is also a very good source.

With our points (210-AKV) we have had 4 -sv studios over the last two years since buying in 2009. That would have been $14000 if paying cash OOP. Add to that this years two trips and we have already met what we paid for it.
We purchased direct for Disney so we did get 2008 points which helped.

 

[sleepydog25]

Maybe someone can refer me to an information site that can help, or if someone wants to answer any questions, I appreciate it!

We have been going to Disney about every other year since '99, just wondering if we should move on to DVC but have so many questions!

1. I see such different pricing for different resorts, for example Vero can be about $56/point where as the new Tower is $100/point. Other than different point values, why would I pay the higher price?

2. How do I "bank" and what does all that mean?

3. I see the financial investment of $10K + and the annual dues-does it really pay off financially for DVC?

Remember, I am a huge Disney lover........DH is not,but he deals with me- I would do just about anything to go to Disney more, but it has to make financial sense to me...........

Someone with a better command of the boards can direct you to useful links, but I'll shortly answer what questions you have above. After that, it would be helpful to do more research.
1. Higher price point is because it's a newer resort, and BLT (Bay Lake Towers) is on the monorail and just steps away from MK. Every DVC contract comes with yearly maintenance fees--you pay a set amount for every point you own. For example, the Villas at the Wilderness Lodge (VWL) cost well over $5 a point this year, so if you owned 200 points, you'd have paid over $1000 just for maintenance fees. Next year, the fees will go up slightly (I think the average is about 4% a year but they can range higher than that). Being newer, BLT's dues cost per point will be less. Further, more popular resorts generally tend to gather higher pricing. Vero Beach isn't one of the favorite resorts since it's not near Disney and has high maintenance fees. Keep in mind that only at your home resort can you make a reservation 11 months out--everywhere else you have to wait until 7 months. So, once again using BLT and Vero Beach, if you bought into DVC cheaply at VB, but you wanted to stay at any other resort at WDW, you would have to wait until the 7-month point to do so, which during particular busy times, might be nearly impossible.
2. The banking explanation given above is good.
3. Whether or not it "pays" to buy DVC depends on your individual approach to vacationing at Disney. I've been in for over six years, and during that time have made enough trips that my DVC is almost paid for, including the maintenance fees I've paid each year. But, if you think your plans to continue visiting WDW might change in, say, 10 years then DVC might not be right for you. It is a big money item, no doubt, and you'll find enthusiasts and naysayers alike on these boards. Do your homework and make sure it's right for you before taking the plunge.
Good luck!

 

[chalee94]

1. I see such different pricing for different resorts, for example Vero can be about $56/point where as the new Tower is $100/point. Other than different point values, why would I pay the higher price?

there's a reason VB is cheaper - demand is much lower.

if you want to stay at VB, a VB contract is fine. if you want to stay onsite at wdw, a VB contract makes it a bit riskier...you will usually find something at 7 months (especially at the larger DVC resorts like SSR and OKW), but there might be years where you are locked out of wdw entirely. and if you buy at VB and expect to be able to book BLT consistently, you'll probably be disappointed.

3. I see the financial investment of $10K + and the annual dues-does it really pay off financially for DVC?

compared to what? if you like staying on the monorail at the contemporary but go every year and want a less expensive option and/or more room, then BLT will probably pay off for you (assuming you can book 10-11 months out).

if you like staying at a value resort and your room is "just to sleep in" then DVC would be a waste of money.